SB130INTRODUCED
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SB130
WQIXE5E-1
By Senator Melson
RFD: Banking and Insurance
First Read: 06-Feb-25
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5 WQIXE5E-1 08/06/2024 TRP (F)tgw 2024-2280
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First Read: 06-Feb-25
SYNOPSIS:
"Legal tender" is defined as coins and banknotes
recognized by the United States Government.
This bill would provide that refined gold and
silver bullion, specie, or certain coins may be
recognized as legal tender.
A BILL
TO BE ENTITLED
AN ACT
Relating to legal tender; to provide that refined gold
and silver bullion, specie, or coins shall be considered legal
tender in the state.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1. This act shall be known and may be cited as
the Alabama Legal Tender Act.
Section 2. (a) Any refined gold or silver bullion,
specie, or coin that has been stamped, marked, or imprinted
with its weight and purity shall be recognized as legal tender
in the State of Alabama.
(b) No person shall be required to offer or accept any
recognized legal tender as described in subsection (a) for
payment of debts, deposit, or any other purpose, nor shall any
person incur any liability for refusing to offer or accept
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person incur any liability for refusing to offer or accept
such legal tender, except as specifically provided for by
contract or otherwise required by law.
Section 3. This act shall become effective on October
1, 2025.
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